South American Exchange Bitso Adopts Coincover's Anti-Hacking Solution

IconCryptoNewsTerminal Staff15 Aug, 2024

cryptonews.jpg

South American Exchange Bitso Adopts Coincover's Anti-Hacking Solution

South American cryptocurrency exchange Bitso has announced its adoption of a solution from multi-signature management provider Coincover. This move is aimed at preventing hacks, loss of access, and other security risks. Bitso operates in Mexico, Argentina, Colombia, El Salvador, and Brazil. It has over 6 million users and handles a significant volume of cryptocurrency trades. Coincover's solution provides Bitso with a secure and efficient way to manage its cryptocurrency holdings. It uses a multi-signature approach that requires multiple keys to authorize transactions, making it much more difficult for hackers to steal funds. The adoption of Coincover's solution is part of Bitso's broader commitment to security. Bitso is one of the largest cryptocurrency exchanges in Latin America and is known for its focus on security. In 2022, the exchange completed a SOC 2 Type II audit, demonstrating its commitment to data security.

Related News